Our DailyMarket Reports

Closing Commentary – 10/22/2010

10/22/2010 4:05:40 PM By: Peter LaTona

As of 4PM (CT) the APMEX spot prices were:

Gold - $1,329.00

Silver - $23.31

Platinum - $1,679.00

Palladium - $594.00

COMMENTARY: The US Dollar strengthened this week, pressuring gold to a six week low. However, we did see a slow rebound in prices during the afternoon, as all indicators from the G20 say that the currency wars are not going to end anytime soon. Gold is up over $5 in afternoon trading – Silver is up over 15 cents – Platinum is up over $4 – Palladium is up over $2. Investors will continue to monitor news from the G20 and its effect on the direction of the US Dollar.

Disclaimer:
APMEX’s ‘Market Reports’ provide our readers with a review of spot price activity and some of the factors that may be affecting the market for precious metals, three times during the trading day. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.